How would you fit the narrative of William Lazonick’s "Sustainable Prosperity in the New Economy"? within the larger story about institutions, property rights, transaction costs,rent seeking, public goods, inequality, and growth told by North, Clarks, Olson, Lindert, as well as Sokoloff and Engerman? If the authors were gathered in the same room, how would their conversation develop a climax? What issues would they disagree about or view as irresolvable and what would they generally agree about and consider settled? How would William Lazonick’s entry shed light on older ideas as well as current issues of growth and distribution? Your assignment is to write a literature review presenting William Lazonick’s Sustainable Prosperity in the New Economy within the context of the larger narrative about the political economy of growth and distribution as presented by North, Clark, Olson, as well as Sokoloff and Engerman.
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